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The CBRE Industrial team of Mike Barry and Bob Ferraro represented the Seller, Heldig LLC. David Yu and Jonathan Do with Maple Leaf Realty represented the Buyer, 4 FACEB Investment LLC, who own ASA Trading Inc., a lead supplier of food related products bringing quality foods to nationwide supply chain food distributors.

“We were excited to secure this successful outcome. The buyer had a strong interest in keeping their operations in San Leandro and owning its facility rather than leasing in this tough rental market with the submarket of Oakland/San Leandro at a historical low vacancy rate hovering around 1 percent,” shared Michael Barry. “The Property received strong interest from multiple buyers that created a competitive environment resulting in a record high price for a warehouse building.”

U.S. industrial hubs posted the strongest growth in prime logistics rents for the past year, as demand for top-quality warehouses and distribution centers continued to outpace supply globally, according to the second-annual Global Industrial & Logistics Prime Rents report from CBRE which found that prime rents in 70 major markets across the globe increased by 2.2 percent on average in Q1 2017 compared to the same period a year ago. The past year’s steepest gains came in the Americas, specifically the U.S., where prime rents are low compared to other regions and demand is robust for distribution space amid the buildout of e-commerce-fulfillment networks. Five of the 10 markets with the biggest prime-rent gains of the past year are in the U.S. including Oakland (up 9.3 percent). Two U.S. markets cracked the 10 most-expensive markets: Oakland was ninth at $8.73, and Los Angeles/Orange County was 10th at $8.52.

The Property is a rare freestanding warehouse with a large fenced and paved yard. For the past 20 years, this facility has been the home of Intertile Stone. It has a 4-ton bridge crane system running the length of the building and three dock spots. The warehouse located on 4.189 acres is conveniently located in Central East Bay within a mile from the Oakland Airport as well as close proximity to the Port of Oakland.